The latest trading session saw Allstate (ALL) ending at $193.63, denoting a +0.04% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.73% for the day. At the same time, the Dow added 0.16%, and the tech-heavy Nasdaq gained 0.98%.
Heading into today, shares of the insurer had lost 5.02% over the past month, lagging the Finance sector's loss of 2.93% and the S&P 500's gain of 0.34% in that time.
The investment community will be closely monitoring the performance of Allstate in its forthcoming earnings report. The company is expected to report EPS of $5.70, down 2.06% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $16.71 billion, up 12.06% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $16.27 per share and a revenue of $64.32 billion, signifying shifts of +1612.63% and +12.07%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Allstate. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.62% higher. Allstate currently has a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Allstate is currently being traded at a Forward P/E ratio of 11.9. This represents a discount compared to its industry's average Forward P/E of 13.46.
We can also see that ALL currently has a PEG ratio of 1.7. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Insurance - Property and Casualty industry held an average PEG ratio of 1.47.
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 23, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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